Philippines

Regulated Partly Confirmed

The Philippines regulates virtual-asset services through the BSP and crypto-asset offerings/services through the SEC's 2025 CASP rules. Crypto is not legal tender.

Bangko Sentral ng Pilipinas / Securities and Exchange Commission

Total Laws (incl. applicable EU-wide)

Effective Laws

At a Glance

Is holding crypto allowed?

Allowed

Is crypto trading allowed?

Regulated

Is P2P trading allowed?

Regulated

Are crypto payments allowed?

Allowed

Is crypto legal tender?

Is mining allowed?

Allowed

Is staking allowed?

Regulated

Is DeFi participation allowed?

Regulated

Are stablecoins allowed or regulated?

Regulated

Activity Status Matrix

Activity	Status	Details
Holding Crypto	Allowed	Is holding crypto allowed?
Crypto Trading	Regulated	Is crypto trading allowed?
P2P Trading	Regulated	Is P2P trading allowed?
Crypto Payments	Allowed	Are crypto payments allowed?
Legal Tender	No	Is crypto legal tender?
Mining	Allowed	Is mining allowed?
Staking	Regulated	Is staking allowed?
DeFi	Regulated	Is DeFi participation allowed?
Stablecoins	Regulated	Are stablecoins allowed or regulated?
NFTs	Regulated	Are NFTs allowed or regulated?
Token Launches	Regulated	Are token launches allowed?
Crypto Advertising	Regulated	Is crypto advertising allowed?
Banking Access	Regulated	Do crypto businesses have banking access?

Regulation Overview

BSP rules govern virtual asset service providers performing exchange or transfer functions connected with the Philippine financial system. In 2025, the Securities and Exchange Commission issued CASP Rules and operating guidelines for crypto-asset offers, trading, custody, marketing and service providers. Securities tokens remain within securities law. Providers may need both corporate/SEC compliance and BSP authority depending on activities. The Philippine peso remains legal tender.

Tax Information

Crypto income and gains are subject to general Philippine income-tax rules. Business, VAT, withholding and documentary obligations depend on the taxpayer, transaction and service.

Individual Tax Treatment

Individuals should report taxable gains or income and maintain peso-valued acquisition, disposal and reward records. No general rule makes personal crypto gains automatically tax-free.

Business Tax Treatment

Businesses include crypto receipts and gains in taxable income and assess VAT, withholding, invoicing and accounting rules. Licensed operators also face regulatory reporting.

Bureau of Internal Revenue

Business & Licensing

Covered VASPs need BSP registration/authority, while CASPs and crypto-asset offers within SEC scope must comply with the 2025 SEC rules. Activities may trigger both regimes.

AML / KYC Requirements

BSP- and SEC-regulated entities must implement KYC, beneficial-owner verification, monitoring, travel-rule data, sanctions screening, records and suspicious-transaction reporting to AMLC.